3 ms·

> Cash is only optimal for privacy, not convenience or availability or speed or security. Security == privacy. And cash certainly wins availability by a long s

by jjav 4y ago

> Cash is only optimal for privacy, not convenience or availability or speed or security. Security == privacy. And cash certainly wins availability by a long shot, it can't be blocked by any kind of outage. Convenience is arguable I suppose. I'd rather hand over cash than deal with anything electronic that can fail. > If my credit card is stolen, I get my money back (so long as I reported it in time, and didn’t surrender to them my pin) Credit cards don't have a PIN, that's a debit card. But yes, you get the money back from fraud with a credit card, that's true. > Re internet/electricity outages, this is so rare enough to not be a concern. Depends where you live I suppose. In many areas electricity outages are a daily occurrence.

Nursie 4y ago
> Credit cards don't have a PIN They do in most countries.
- Dalewyn 4y ago
  In the US, most credit cards don't have PINs and if one does nobody/nothing ever asks for it. Debit cards, however, are downright nazis about PINs.
  - Nursie 4y ago
    That's why I said "in most countries". In most non-US countries credit cards enforce PIN usage the same way as your debit cards appear to.
    - ghaff 4y ago
      Well except that debit cards always require PINs in the US and credit cards only sometimes do in eg Europe.
      - Nursie 4y ago
        Generally in Europe, when a card is inserted into a terminal for a chip transaction, PIN entry is required. There is no particular delineation between whether it's credit or debit like this. Contactless transactions have a small percentage chance to request PIN, but contact transactions always do it, as all european cards (AFAICT) have put the PIN CVM ahead of the signature CVM, or just dropped the signature CVM entirely, for around 20 years now. I wasn't aware that Chip+Signature cards even exist in europe. Whereas the US is all over the place with different methods for different cards, and mag stripes still in use, sometimes requiring you to enter a PIN alongside that, all largely driven by retailer reticence to update their hardware.
yardstick 4y ago
> In many areas electricity outages are a daily occurrence. I’ve lived in 4 continents, never had daily, weekly, or even monthly outages. > Security == privacy. And cash certainly wins availability by a long shot, it can't be blocked by any kind of outage. If you don’t have enough cash in your wallet then you don’t have any availability. If you have a internet outage your debit/credit cards still work offline. Also security does not equal privacy. If you are living in a state where this is true, you have bigger issues with the entire system than ATM skimmers. > Credit cards don't have a PIN, that's a debit card. Everywhere I have lived bar the US has PINs on all card types. It’s only a matter of time before it becomes ubiquitous in the US too.
- jjav 4y ago
  > If you have a internet outage your debit/credit cards still work offline. Not when the store is offline. The convenience store just up the street from here every now and then goes cash-only whenever their connectivity is down.

by jjav 4y ago

Nursie 4y ago

> Credit cards don't have a PIN They do in most countries.

Dalewyn 4y ago
In the US, most credit cards don't have PINs and if one does nobody/nothing ever asks for it. Debit cards, however, are downright nazis about PINs.
- Nursie 4y ago
  That's why I said "in most countries". In most non-US countries credit cards enforce PIN usage the same way as your debit cards appear to.
  - ghaff 4y ago
    Well except that debit cards always require PINs in the US and credit cards only sometimes do in eg Europe.
    - Nursie 4y ago
      Generally in Europe, when a card is inserted into a terminal for a chip transaction, PIN entry is required. There is no particular delineation between whether it's credit or debit like this. Contactless transactions have a small percentage chance to request PIN, but contact transactions always do it, as all european cards (AFAICT) have put the PIN CVM ahead of the signature CVM, or just dropped the signature CVM entirely, for around 20 years now. I wasn't aware that Chip+Signature cards even exist in europe. Whereas the US is all over the place with different methods for different cards, and mag stripes still in use, sometimes requiring you to enter a PIN alongside that, all largely driven by retailer reticence to update their hardware.

yardstick 4y ago

> In many areas electricity outages are a daily occurrence. I’ve lived in 4 continents, never had daily, weekly, or even monthly outages. > Security == privacy. And cash certainly wins availability by a long shot, it can't be blocked by any kind of outage. If you don’t have enough cash in your wallet then you don’t have any availability. If you have a internet outage your debit/credit cards still work offline. Also security does not equal privacy. If you are living in a state where this is true, you have bigger issues with the entire system than ATM skimmers. > Credit cards don't have a PIN, that's a debit card. Everywhere I have lived bar the US has PINs on all card types. It’s only a matter of time before it becomes ubiquitous in the US too.

jjav 4y ago
> If you have a internet outage your debit/credit cards still work offline. Not when the store is offline. The convenience store just up the street from here every now and then goes cash-only whenever their connectivity is down.